BHEL - Long Term Triangle formation
A long term Triangle formation can be seen in the weekly chart of Bhel.
Breaking out would be a profitable venture.
The recent volume shows a heavy accumulation.
Entry - 38.5
SL - 30
Target - 57
Risk: Reward - 1:2
Breaking out would be a profitable venture.
The recent volume shows a heavy accumulation.
Entry - 38.5
SL - 30
Target - 57
Risk: Reward - 1:2
Note
A week after the above post the breakout occurred and closed above 38.5. If it sustains the level, then it would go higher.Trade active
Trade closed manually
The first target reached 56. Closing the idea. Thanks!
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